Medtronic to trim 1,000 jobs in fiscal 2013; about 250 jobs to be cut in Twin Cities
FRIDLEY, Minn. (AP) -- Medtronic Inc. says it will cut 1,000 jobs in a fiscal 2013 restructuring plan.
A Medtronic spokeswoman says about 250 jobs will be cut from the Minneapolis area where the medical device maker is based, and most of those employees have been notified. She declined to elaborate on where the rest of the cuts will be made or from what parts of the company's business.
The company also will add 1,500 positions during the year for a net gain of about 500. Most of those jobs will be in emerging markets like India and China, and Medtronic's U.S. employee count will remain flat or rise slightly.
Medtronic also says its fourth-quarter earnings jumped 28 percent. Revenue topped analyst expectations.
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